The global technology investor SoftBank Group Corp is in its final stage of investing a huge amount of $450 million in Delhivery, which is India’s largest e-commerce-centric logistics company by revenue.
This particular deal is expected to value the company at over $1 billion, entering into the unicorn club. Through its Vision Fund, SoftBank is set to invest an estimated $350 million (about Rs 2,500 crore) in fresh capital into the company.
Along with this, the Tokyo-headquartered strategic holding investor is expected to undertake secondary transactions, estimated at $100 million, to further bump up its stake in the company.
As part of secondary exits, the company’s founders are likely to abolish their ownership substantially. SoftBank will emerge as the single largest shareholder with a 32% stake while Carlyle will control 11%.
This investment has come after it was reported that the logistics firm had decided to push back plans for an anticipated $350 million initial public offering, an issue it had been working on for more than 18 months.
Also, the development comes at a time when the Japanese investor is said to be negotiating a potential investment of $200 million in baby and mother care portal FirstCry.